Redwheel, a specialist independent investment manager, has purchased the assets of Ecofin, a specialist investor in sustainable infrastructure and environmental solutions, from Tortoise Capital. Financial terms were not disclosed.
As of Aug. 31, Ecofin had approximately $1.5 billion of assets under management and 14 team members.
The acquisition enhances Redwheel’s existing thematic sustainability capabilities by bringing global public equity strategies across renewable infrastructure, energy transition and sustainable infrastructure, including a London-listed investment trust, Ecofin Global Utilities & Infrastructure Trust.
Redwheel said this acquisition aligns with its commitment to fundamental, long-term specialist investment strategies and driving the decarbonization of economies, which is supported by Greenwheel, Redwheel’s in-house team of sustainability experts.
“The sustainable transition offers long term structural growth opportunities